The Obama Crash
Now, to be sure, given how erratic the stock market has behaved in the last 2 months or so, this sell-off may be related to something else. But regardless of to what extent investors actually sold off because of the Obama victory, the real point is that they should have done so.
With Obama as president, not only will the economy slump even more than it otherwise would have done, but Obama will also slap U.S. multinational companies with extra taxes on the profits of their foreign subsidiaries. A kind of de facto tariff that only applies to U.S.-based companies, while their foreign based competitors This will lower the present value of future profits from these subsidiaries, which in turn implies that the fundamental value of U.S. stocks will decline. So, while we can't be sure that the investors who have sold stocks in the last 2 days have been aware of this, we can be sure that the price movement their actions generated mimicked the rational response to the Obama victory.